Samsung Fire & Marine Insurance has received regulatory approval to establish a joint venture with Internet giant Tencent in China, more than 18 months after the planned partnership was announced in November 2020.
The Financial Regulatory Authority (FRA) has announced said that it is studying an offer by GIG Insurance Company-Egypt, to acquire the equity shares of AIG Egypt Insurance Company.
Dai-ichi Life Holdings has announced its acquisition of 100% of the shares in Partners Group Holdings Limited, the parent company of Partners Life for NZ$980m ($630m). Dai-ichi Life will acquire the company through its wholly owned subsidiary Dai-ichi Life Insurance International Holdings, which controls the group's overseas business.
A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest INR6.55bn ($82.26m) for a 9.99% stake in Aditya Birla Health Insurance (ABHI), a joint venture of Aditya Birla Capital (ABCL) and Momentum Metropolitan Strategic Investments (MMH).
German global insurer Allianz is planning to sell its Saudi Arabia unit, as the firm eyes streamlining its portfolio and raising cash, Bloomberg reported quoting people familiar with the matter.
Liberty Mutual Insurance has completed its acquisition of Malaysian insurer AmGeneral Insurance (AmGeneral), a top-three motor insurer with a growing business in additional product lines.
The Saudi Central Bank has approved the merger of SABB Takaful and Walaa Insurance, according to statements lodged by the two companies with Tadawul.
Australia-based insurance broker Aviso Broking has acquired Macquarie Insurance Brokers (Australia) Pty Ltd in Sydney, which caters to commercial and personal insurance lines.
Sino-Korea Life Insurance, a joint venture between South Korean life insurer Hanwha Life Insurance and Zhejiang Orient Financial Holdings Group, will bring in five Chinese state-backed strategic investors, raising the stake owned by Chinese companies to 75%.
Brisbane-headquartered Suncorp Group yesterday announced that it has signed a share sale and purchase agreement with Australia and New Zealand Banking Group (ANZ) to sell its banking business for A$4.9bn ($3.3bn).